Samsung Group

South Korea's economy grows at fastest pace in 3 quarters

South Korea, Asia's fourth-largest economy, grew at the fastest clip in nearly a year thanks to recovery in exports, the central bank said Thursday, despite a backlash from Chinese consumers over the deployment of a U.S. missile defense system.

The economy expanded 2.7 percent during the January-March period over a year earlier, higher than the 2.4 percent growth during the previous quarter and the strongest since the second quarter, Bank of Korea said in its preliminary results.

On a quarterly basis, South Korea's economy grew 0.9 percent, after posting 0.5 percent quarterly growth in the last two quarters.

The bank said the result, slightly higher than expectations,...

63°